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Below is an Interesting article I found, which says that.....Do not - K4 E+ G- t6 n$ m# Z
expect much from Crude Oil producers and future is not with the
0 F+ \; x. y! s& Ycompanies producing Jet fuels but Biofuels. Also no wonder if some of
/ ~! n0 C- d* ithese oil producer will go bankrupt or out of the business even if . n j3 i W% X+ v) N6 y
crude prices improves. This implies also to good names such as Shell, x0 u" v }) J* S1 @
EXXON, BG, BP, Cheveron ....xyz.. oils 3 o) i1 W5 a5 ?0 D: Z
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Recently OPEC reduced crude oil production twice over just a few
$ Z5 O3 p" v* D* _" kmonths. There are three wars going on in Gaza, Iraq and Afghandistan.
9 ?! S/ w/ S' E6 @) L/ [( FA year ago these things would have spiked the price of crude oil by at
9 |1 I3 t3 s6 [' Jleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
- y& U* p* D! E) | \: W+ O) pof so much news. These reasons are: 4 m% i H6 }2 X' c+ t$ A) ^) j
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1. New oil has been found in Canada, Montana, North & South Dakota and
, `7 d( `9 y0 |8 Vin the ocean near Brazil. Each of these oil fields has more oil than
g Q( e j; T/ L3 D+ rArabia. " k$ @; M0 x( J/ o
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* m t/ X# w# o7 S2. New natural gas has been found in Pennsylvania and West Virginia. . r ]6 L P3 y
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
! h6 H! N& R& Q& s4 U& ibeing used to double their output. ( C, `" b: }' M% k8 b2 s
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4. Production of bio-fuels is beginning to reach critical mass. Bio
{+ j1 T* a n0 X) Efuel is being produced from many plants and algae. The production
4 ^% Q X) C* X% _potential per acre in some cases is astounding. Many countries are
9 u6 f) g! g0 w9 g3 k9 l: I) oracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants % W& V. X0 e" o7 v
are now selling their used oil to bio-diesel producers. Every pork, 9 n$ a0 c6 x8 g3 D. U
cattle, turkey and chicken processing plant will soon sell their fat 9 c; {% k5 r( l4 w/ u4 q( v, }0 E
to bio-diesel producers. One pork processing plant in Oklahoma is
6 L: d( H1 o! V* c0 \7 Eproducing 30,000 gallons of bio-diesel per day from pork fat. ! s) W1 d2 _8 y2 F9 V( l
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, ~- t4 [" z7 t$ F9 q9 x6. There are 99 nuclear reactors in various stages of planning and
) F3 I+ L; |! vconstruction around the world at this time. Several hundred more are * |2 ?1 X; |) D4 V2 w
expected to be built in the future. Much of the energy they produce
* {3 R- _" m f) w$ r0 @will replace oil.
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7. Every company in any form of transportaion business is replacing
8 ]5 c0 G. |4 [ y9 [6 [older equipment such as trucks, airplanes, train engines, ships, etc. ) m( i+ Y8 u8 v4 d
with new more fuel efficient equipment. Airlines and railway companies
9 _4 X8 d3 ~, N. E* t* M2 @are experiencing 20% to 25% better fuel econony with the new ' ]; B. f; d s
equipment. # k, d& l$ n' ~3 R- [0 I3 T
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- V0 d6 b; p" ^! gAirlines are flying airplanes with bio-fuel. They are finding the bio-
0 y$ e( T! B" {* Q. F! bfuel is cleaner and performs better than jet fuel. 8 x4 T0 T; w% B" [8 r6 k$ Q
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8. Cities and counties throughout the US are selling the rights to , G6 k0 w. m! O0 g! M
capture methane gas from landfills. This is a huge source of gas
+ q( o, `+ _( k$ bavailable at very little cost or risk. The gas is displacing crude
6 I+ u8 x) [; |5 A soil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 * R' ]6 U1 b! q
produced as a byproduct is sold to oil companies for injection into
8 f" S4 b" V9 |) v; F1 Noil wells. + y0 z/ L/ y [0 d
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: }7 ~& C$ m8 J( @! r( S10. Solar, wind and ocean energy is displacing oil as an energy
7 k2 I- L* K6 k, Z9 _. N# lsource. Three new wind turbines are being erected every day in the US.
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) Q( P4 E' B& }+ [" O: ]Each of the above by itself will not make a large difference in the / S2 T' Q- f5 ~; y0 G: U, S
price of crude oil but the sum of all of them together is world
L- P9 D7 Z& x' s- ^. `+ echanging. The important thing is that OPEC no longer has the ability
" c3 ^5 z5 S w% {; H* @3 dto control oil prices.
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With the above scenario, I still believe that there are under & i1 ~* S$ F, G( f
performed OIL companies and probably they are yet to get the justified 2 c! g i5 O1 k. f- e2 Z
value .....
1 I9 n& }( W+ Q4 t9 |2 s! X" b( EIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 2 B/ Y9 ?6 |1 H2 o3 v5 Q) |+ y4 x
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
$ i Z: i% [0 N7 Z0 S2009 ... FYI-Only |
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